I Group -GE Money PPI any successes ?

zzharia

Hi

I had a secured loan with I-group which was completed through a broker , a lump sum was paid for a PPi that covered for 5 years .

The broker is no longer trading , the original loan was with I Group then Ge Money and more recently Elderbridge Ltd.

I have seen loads of threads regarding I Group and the miss-selling of PPI , but i have yet to see any successful reclaims .

Has anybody had any positive outcomes reclaiming ? , any useful information would be appreciated .

societys_child

Any responsibility for the sale would be with whoever sold it to you, in this case, the broker, but as they are no longer trading there's no one to complain to.

zzharia

societys_child wrote: »

Any responsibility for the sale would be with whoever sold it to you, in this case, the broker, but as they are no longer trading there's no one to complain to.

Thats what I thought, I have just phoned the FOS for some guidance but advice wasnt very helpful . They told me to complain to Elderbridge Ltd and wait 8 weeks and if not happy to go back to them ....

dunstonh

zzharia wrote: »

Thats what I thought, I have just phoned the FOS for some guidance but advice wasnt very helpful . They told me to complain to Elderbridge Ltd and wait 8 weeks and if not happy to go back to them ....

Did you tell them you used a broker? They should have told you to complain the broker anf if the broker no longer existed but the sale was after Jan 2005, then you can refer to the FSCS.

If after all that, they told you to go to Elderbridge then that is a probably an attempt at a plevin outcome as there is some joint liability on that. However, the lender has no responsibility for the actions of the broker.

zzharia

dunstonh wrote: »

Did you tell them you used a broker? They should have told you to complain the broker anf if the broker no longer existed but the sale was after Jan 2005, then you can refer to the FSCS.

If after all that, they told you to go to Elderbridge then that is a probably an attempt at a plevin outcome as there is some joint liability on that. However, the lender has no responsibility for the actions of the broker.

The broker was freedom finance they are no longer trading, I dug out the paperwork the loan was taken out in May 2003 . Yes I did mention that it was through a broker . I’m also going to look at Mortgage charges that was applied on the account .